When to List for Sale?

11 01 2017

As we begin the new year, people are starting to get more serious about buying and selling real estate in the Brainerd Lakes Area. As a seller, it is important to understand, not only the potential value of your property, but what the market is doing in your particular area. Real estate is local and each area has different factors that effect the market. For this reason, sellers need to consult with a real estate professional as soon as possible in order to make sure you are putting your best foot forward and positioning yourself to get the most amount of money in the time frame you consider to be reasonable.

One beneficial tool that we use to look at the market is called the Absorption Rate. Basically, it shows us supply and demand. In real estate, if there is six months of inventory, we have a balanced market. When there is less than six months, it is considered a seller’s market and more than six months is a buyer’s market. For the most part, it is a seller’s market in the Brainerd Lakes Area. The chart below shows how many months of inventory there was at the end of the year in both Brainerd and Baxter over the last three years.

01112017

Based on the habits of buyers in the past 12 months, if no new listings come on the market, in three months there would be no homes left to sell in Baxter. This represents a 34.8% decrease in months of inventory from last year at the end of the year.

According to a recent Zillow Report (zillowgroupreport2016-11bcad), buyers are taking an average of 4.2 months to search for a home. This could mean that the buyer for your home is possibly out there searching right now! So, when do you put your home on the market?

If buyers are looking now, supply is low and demand is high (based on the three months of inventory), then the sooner you can get your home on the market the better. And a good idea would be to get it on the market before your competition. If buyers are ready to go, they will jump on an attractive listing very quickly. This next chart shows the trend for new listings entering the market in Brainerd and Baxter.

01112017-b

As you can see from the previous three years, there is a significant jump in new listings in March and April. My suggestion would be to list in the middle to end of February. This also means you need to contact us as soon as possible to schedule viewing your home and helping to fine tune the decisions you need to make to position your property in the best possible light against your competition. Here is one of the tools we use to help with that.

listingpresentationflyer-female

Buying or selling, fill out your basic information to get a snapshot of home values and the market in you specific area: Market Snapshot.

Contact us today! (218) 828-0444 – www.BrainerdAreaRealEstate.com – team@goedker.com – 7761 Excelsior Road, Baxter, MN  56425

colorlogoj

Advertisements

Actions

Information

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




%d bloggers like this: